India, April 7 -- Wedbush raised its 12-month price target on Neurocrine Biosciences, Inc. (NBIX) to $166 from $151, reaffirming its Outperform rating. Shares of NBIX are currently trading at $130.78.
The upgrade follows Neurocrine's April 6, 2026, announcement that it will acquire Soleno Therapeutics (SLNO) for $2.9 billion. The deal adds Soleno's lead therapy Vykat, approved for treating Prader-Willi Syndrome (PWS), into Neurocrine's pipeline.PWS is a rare genetic disorder that causes constant hunger, obesity, and other serious health issues.
Wedbush noted that acquisition makes strategic sense, even though Vykat was not previously on their radar. The brokerage firm expects Neurocrine to finance the deal with about $900 million in debt ...